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20110701
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foreign investment every month were india takes it in over -- every year and they only grow 2% faster than india. it is not as impressive as it appears. massive investment, a huge number of airports, highways, high-speed rail. if you look at what you are getting out of it in terms of the return of investment, not as investment. china has a huge problem that they face. the u.n. can out with a report that pointed out that china will have a demographic collapse of the next 25 years. they will lose 400 million people. there is no point in human history in which you have had a dominant power in the world that is also declining demographically. it simply does not happen. if you want to look at what a country in demographic decline looks like, look at japan. how powerful is it? politically, even if china is the largest economy in the world, and those numbers are all based on purchasing power parity where there gdp gets inflated because the cost of a hair cut is less than one in toronto, but your international power does not depend on the price of hair cuts but foreign aid, oil, and international
or will the leadership pass to china or india or to some other place? this is the great issue confronting the people of the united states, and it's the great issue confronting us here in congress as well. let's get our fiscal house in order. thank you, mr. speaker, and i yield back the balance of my time. the speaker pro tempore: the gentleman from new jersey yields back the balance of his time. the chair recognizes the gentleman from illinois, mr. quigley, for five minutes. mr. quigley: thank you, mr. speaker. mr. speaker, an american president once wrote a letter to the senate majority leader urging him to raise the debt ceiling. the president wrote, "the consequences of a serious prospect of default for the united states is impossible to predict and awesome to contemplate. denegation of the full credit of the united states would have substantial impact on the domestic financial markets and on the value of the dollar in exchange markets." that president's name was ronald reagan and the year was 1983. he closes under the senate majority leader howard baker saying, the risks, the costs, the incalcul
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